Wireless M-Bus Devices Market - Forecast(2024 - 2030)

Wireless M-Bus Device Market Overview

The global Wireless M-Bus Device market size is forecast to reach $208.3 million by 2026, growing at a CAGR of 9.8% from 2021 to 2026. The market growth is attributed to various factors including the need for improving public data networks, optimizing open systems interconnection facilities across major industries and so on. Wireless M-Bus device serves as a transmission control protocol for collecting meter readings or data from electricity, gas or water meters. Additionally, the growing need for long-range effective wireless connectivity within industrial machines, adoption of industrial IoT and so on will also impact the market growth. Governmental regulations regarding energy efficiency, growing concern over industrial safety, investments on smart city infrastructures will further drive the market growth in the long run.

Report Coverage

The report: “Wireless M-Bus Device Market Forecast (2021-2026)”, by Industry ARC covers an in-depth analysis of the following segments of the Wireless M-Bus Device Market.
By  Communication Mode: Uni Directional, Bi-Directional
By Device Type: Gas meters, Heat meters, Water meters, Electricity meters, Smart Meters, Others
By End Users: Oil & Gas, Energy & Utilities, Telecommunication, Chemicals & Petrochemicals, Power Generation, Automotive, Industrial, Manufacturing, Water & Wastewater, Others
By Geography: North America (U.S, Canada, Mexico), Europe (U.K, Germany, France, Italy, Spain, Others), APAC (China, Japan, South Korea, India, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East, Africa)

Key Takeaways

• Power Generation sector is analyzed to grow with the highest CAGR during 2021-2026, owing to adoption of adoption of NB-IoT based devices and others.
• North America wireless M-bus device market held the largest share in 2020, owing to the growing adoption of energy management systems and others
• Increasing adoption of NB-IoT along with rising investments on smart cities for smart metering solutions is analyzed to significant drive the global wireless M-Bus device market during the forecast period 2021-2026.

Wireless M-Bus Device Market Segment Analysis- By Device Type

Based on device type segmentation, Smart Meters are analyzed to grow with the highest CAGR of around 6.3% in the global Wireless M-Bus Device market during the forecast period 2021-2026. With trends like industrial automation, rise in connected devices across varied industries, penetration of advanced technologies including IoT and others have been attributing towards the demand for smart metering solutions. Smart meters with Wireless M-Bus protocol support help in easing down the process of billing, monitoring, visualizing and many others, alongside automatic decryption of collected data. In addition, wireless M-Bus compatible devices provide advantages like long range wireless communication, data transmission, remote monitoring with web interface support and so on. Owing to these factors, the market growth towards wireless M-Bus device configured smart meters will rise overtime. In May 2021, Develco Products announced about the launch of an installation tool, capable of collecting wireless M-Bus data from NES smart meters. This development of the module was done to provide industrial workers or plant operators with the ease of commissioning with smartphone access regarding meter data collection. Such developments are further set to drive the need for Wireless M-Bus compatible smart metering solutions in the long run.

Wireless M-Bus Device Market Segment Analysis- By End Users

Power Generation sector is analyzed to witness the fastest growth in the global wireless m-bus device market with the highest CAGR of 5.9% during 2021-2026. This market growth is attributed to various factors including growing adoption of smart metering solutions, rise of automated energy management, safety concerns regarding electrical industry operations and so on. Since this industry is a highly regulated one, owing to the requirement of improving plant operational safety, need for frequent or periodic maintenance services while identifying defects, faults and others, there will be significant growth towards the need for wireless m-bus compatible devices or metering systems. In June 2021, HPL Electric & Power had revealed about receiving an approval along with production clearance from a key leading private distribution company regarding implementation of NB-IoT based smart meters within Delhi, India. Such approvals regarding installation of NB-IoT smart meters are set to fuel the demands towards Wireless M-Bus device market across the power generation industries in the coming time.

Wireless M-Bus Device Market Segment Analysis- By End Users

North America had dominated the global wireless M-bus device market with a share of 34% in 2020, and is anticipated to have a significant growth during the forecast period 2021-2026. Growth of varied industrial sectors, increasing adoption of energy management systems, shift towards connected devices for smart metering application areas have been attributing towards the market growth. In addition, rising penetration of IoT and wireless communication networks along with rapid urbanization can also drive the need for wireless m-bus devices. In May 2019, a telecom giant, AT & T Inc. announced about the launch of NB-IoT networks across United States, as a part of its cellular IoT advancements. Such developments from telecom operators towards enhancing wireless connectivity can be considered crucial in positively impacting the growth towards smart metering solutions within the country.

Wireless M-Bus Device Market Drivers

Increasing adoption of NB-IoT positively impacts the market growth of Wireless M-Bus Devices

Increasing adoption of NB-IoT act as one of the major drivers boosting the market growth of Wireless M-Bus Devices. Since NB-IoT has emerged as a better alternative for connecting or enhancing communication of gas meters, water meters and so on, owing to large bandwidth requirements, thereby impacting the market growth. The growing shift towards improving industrial automation along with rise of M2M communication within varied industry verticals including energy & utilities, telecom and others have been also driving the adoption towards NB-IoT based devices. In January 2021, Nordic Semiconductor announced about a German industrial IoT solution specialist, named Lobaro using its multi-mode NB-IoT/LTE-M nRF9160 SiP within its Wireless M-Bus Gateway. This was meant to provide low power wide area networking for European M-Bus utility meters utilizing either NB-IoT, LoRaWAN or a combination of both. Such factors are further set to drive the market forward in the coming time.

Rising investments on smart city projects will drive the need for smart metering solutions

Rising investments on smart city projects are driving the need for smart metering solutions and is considered as a major factor boosting the Wireless M-Bus Devices market. Owing to technological advances, there is shift towards improving mobile IoT network connectivity capable of long range communication. Growth of connected devices have also emerged as a potential factor impacting the need for installation of smart meters, water meters and others to drive efficiency. In addition, growing deployment of commercial NB-IoT based metering solution for smart city infrastructures can also help in aiding the market growth further. Investments on smart city projects overtime will also raise the demand for smart water meters, smart gas meters and electricity meters to drive automation, through integration of all such services under a unified platform. In September 2021, APG had revealed about making an additional investment of €500m commitment to the Smart City Infrastructure Fund (SCIF), which will ensure the implementation of a broad range of smart city infrastructure solutions through efficient allocation of resources. Such factors will further assist the market growth towards wireless M-Bus devices in the long run.

Wireless M-Bus Device Market Challenges

Higher costs associated with wireless M-Bus devices impedes the market growth

Higher costs associated with installation, functioning and operation of wireless M-Bus devices act as a major factor restraining the market growth. Manufacturing complexities related to these devices can contribute to low signal reception, performance constraints over networking and so on, drive the need for skilled expertise. This in turn helps in adding up to the overall costs for these devices, creating lesser adaptability. The price of a RS Pro energy meter lies between USD 39 to USD 47. Furthermore, operation and installation charges for a wireless m-bus compatible metering solutions are comparatively higher than the traditional protocols. Such factors eventually hampers its market growth.

Wireless M-Bus Device Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the wireless m-bus device market. Wireless M-Bus Device top 10 companies include:

• Texas Instruments
• Farnell
• Friendcom
• MikroElektronika
• IMST GmbH 
• Radiocrafts AS
• AMIHO Technology
• Webdyn
• STMicroelectronics
• ROHM Semiconductor 

Acquisitions/Technology Launches/Partnerships

• In February 2021, Webdyn announced about the launch of a new gateway, based on wireless M-Bus technology. This will help in providing features like data collection autonomously from varied wireless M-Bus meters or sensors.
• In September 2020, IMST GmbH had introduced a LoRaWAN certified Wireless M-Bus Range Extender.

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